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"INFINITY, INSANITY EXPLANATION"


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13 minutes ago, Bumble said:

I remember when a trillion dollars was considered a lot of money.

Wiemar ? Hyperinflation by any chance! 😉

In the early post-war years, inflation was growing at an alarming rate, but the government simply printed more currency to pay debts. By 1923, the Republic claimed it could no longer afford the reparations payments required by the Versailles Treaty, and the government defaulted on some payments. In response, French and Belgian troops occupied the Ruhr Germany's most productive industrial region at the time, taking control of most mining and manufacturing companies in January 1923. Strikes were called, and passive resistance was encouraged. These strikes lasted eight months, further damaging both the economy and society.

The strike prevented some goods from being produced, but one industrialist,Hugo Stinnes,  was able to create a vast empire out of bankrupt companies. Because the production costs in Germany were falling almost hourly, the prices for German products were unbeatable. Stinnes made sure that he was paid in dollars, which meant that by mid-1923, his industrial empire was worth more than the entire German economy. By the end of the year, over two hundred factories were working full-time to produce paper for the spiralling bank note production. Stinnes' empire collapsed when the government-sponsored inflation was stopped in November 1923.

In 1919, one loaf of bread cost 1 mark; by 1923, the same loaf of bread cost 100 billion marks.

 

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4 minutes ago, 5huggy said:

By the end of the year, over two hundred factories were working full-time to produce paper for the spiralling bank note production. Stinnes' empire collapsed when the government-sponsored inflation was stopped in November 1923.

ALL it takes this time is a "KEYBOARD"!

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I have just finished watching Fed Code Red: Repo Infinity, Bailouts, PDCF! (Explained) George Gammon talking about potentially Fed balance sheet hitting 30 Trillion dollars. On Friday George Gammon release video about interview with Peter Schiff coming inflation. I thought when I stared stacking I had enough time to accumulate and position myself but what's currently happening is the financial crisis times factor of five.

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1 hour ago, Abyss said:

I have just finished watching Fed Code Red: Repo Infinity, Bailouts, PDCF! (Explained) George Gammon talking about potentially Fed balance sheet hitting 30 Trillion dollars. On Friday George Gammon release video about interview with Peter Schiff coming inflation. I thought when I stared stacking I had enough time to accumulate and position myself but what's currently happening is the financial crisis times factor of five.

“Wait till it mutates and happens again next year.” A mate of mine said it to me tonight as I tried to get him some instant life cover (he has health issues and he’s 43).

That got me thinking, it’s not going to go away this virus is it??? QE infinity indeed 

Decus et tutamen (an ornament and a safeguard)

YouTube - https://www.youtube.com/channel/UC5OjxoCIsDbMgx7MM_l4CmA

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Several years ago luckily me and my wife obtained substantial amount of life insurance. The problem now is that life insurance companies will face to many claims knocking at the door at the same time they will fail to pay out and fold. Some truly scary times ahead and I don’t think the scale or magnitude of this event had enough time to sink in people still calling this the flu. Biggest life altering event happen in our lifetime.

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Where I come from the public sector is the biggest employer, who will pay their wages when the tax receipts from the rest of us stop rolling in? 

You can guarantee they won't be asked to live on £94 per week.

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9 hours ago, Abyss said:

Several years ago luckily me and my wife obtained substantial amount of life insurance. The problem now is that life insurance companies will face to many claims knocking at the door at the same time they will fail to pay out and fold. Some truly scary times ahead and I don’t think the scale or magnitude of this event had enough time to sink in people still calling this the flu. Biggest life altering event happen in our lifetime.

The insurers like Aviva have reinsurers and so do they. It splits the risk massively over various insurance types. All should be fine there.
 

Also, new Aviva applicants have to answer Covid-19 questions up front now in the application, so they are limiting the risk to new applicants plus those trying to pull a fast one. This started yesterday.   

Decus et tutamen (an ornament and a safeguard)

YouTube - https://www.youtube.com/channel/UC5OjxoCIsDbMgx7MM_l4CmA

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8 hours ago, Xander said:

Where I come from the public sector is the biggest employer, who will pay their wages when the tax receipts from the rest of us stop rolling in? 

You can guarantee they won't be asked to live on £94 per week.

That’s where central Govt money printing will come in. Public sector is probably the safest jobs to have at over the coming months. 

Decus et tutamen (an ornament and a safeguard)

YouTube - https://www.youtube.com/channel/UC5OjxoCIsDbMgx7MM_l4CmA

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I haven't got round to looking at the previous replies yet and I'm off to work shortly. I'm a bus driver and we have to stay busy albeit next week we are on a slightly reduced Saturday service.

Anyway I digress. This action of the government paying everybody's wages is quite extraordinary. A banker said to me that it was to save jobs and prevent the govt from having to pay billions and zillions of unemployment benefits. But are we not all effectively receiving unemployment benefits anyway? I can't get my head round this. Does this not substantially increase the govt debt? Is it money printing and and is it possibly a precursor of hyper-inflation?

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On 19/03/2020 at 21:46, Abyss said:

I have just finished watching Fed Code Red: Repo Infinity, Bailouts, PDCF! (Explained) George Gammon talking about potentially Fed balance sheet hitting 30 Trillion dollars. On Friday George Gammon release video about interview with Peter Schiff coming inflation. I thought when I stared stacking I had enough time to accumulate and position myself but what's currently happening is the financial crisis times factor of five.

Who is George Gammon? Is he a middle aged white guy? I jest but I've never heard of him. Have you got a link?

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43 minutes ago, Cointreau said:

A banker said to me that it was to save jobs and prevent the govt from having to pay billions and zillions of unemployment benefits. But are we not all effectively receiving unemployment benefits anyway? I can't get my head round this. Does this not substantially increase the govt debt? Is it money printing and and is it possibly a precursor of hyper-inflation?

I think it’s the lesser of two evils. A mate of mine was made redundant on Thursday only to be called after yesterday’s announcement that they are working on how to keep her on over weekend. The company won’t get the money instantly, they have to apply so it could take some time to sort. Lots of pressure on HMRC etc here. 1) being redundant is a psychological fcuk up whereas being out on hold or whatever term it is feels better and not like you have no job, 2) the employer can get the same employee back up to speed and back making money ASAP once it’s mostly “over”, a bounce back will be faster once people just get back to normal. 3) Most people don’t want to be on “benefits”, 4) Employers have the option of toppings up wages for their key staff e.g. restaurant wanting to keep its head chef who is the marketing base of the restaurant etc. 

Yes, the debt will increase massively; around 3 years worth of the usuals debt in this year alone, this is after all the Tory austerity cuts for the last 5 years +

Yes, it’s money printing. IOUs from Govt to central bank creates more £s and dilutes the value of the £.

Yes it could lead to hyperinflation but luckily inflation is still low. Fuel prices are a joke low. I can imagine food prices going up. Utility prices might go up due to more demand (perhaps at home more but it’s also nearly summer so maybe not). So many variables. 

The world will be seaking a medication and/or vaccination for this quick smart.

Could this mutate, become deadlier, etc?? It could lead to more of the above for a longer time. PMs are therefore a store of value at today’s £ value. I don’t see the £ increasing in value like the $ (Due to demand post stock sales).

Its the long term uncertainty that’s making me cash out and PM up!!

 

Decus et tutamen (an ornament and a safeguard)

YouTube - https://www.youtube.com/channel/UC5OjxoCIsDbMgx7MM_l4CmA

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I’m self employed and get relatively bugger all compared to employees. I should have set up a ltd company and paid myself a wage and dividends to reduce my tax burden but this was my first year so didn’t expect to earn as much as I have.

I’m now totally disadvantaged for being too honest perhaps?

Should I call an accountant and make sure I’m ok for the foreseeable or just keep my fingers crossed??? 

Decus et tutamen (an ornament and a safeguard)

YouTube - https://www.youtube.com/channel/UC5OjxoCIsDbMgx7MM_l4CmA

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8 minutes ago, Stuntman said:

The payment of 80% of wages for employees of UK companies is (I'm pretty sure) going to be based on the pay as at 1 Feb 2020, so there's no opportunity to be 'cute'.

Dammit 😂 

Looks like I’ll be putting my fees up then like all the other self employed!!! 

Decus et tutamen (an ornament and a safeguard)

YouTube - https://www.youtube.com/channel/UC5OjxoCIsDbMgx7MM_l4CmA

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50 minutes ago, JunkBond said:

I blame George Gammon for my sleepless nights worrying about the money in my HSBC account. 🤨😁

https://www.lovemoney.com/news/15729/who-owns-your-bank-or-building-society

I would only have currency in building society. Already moved the majority currency I have from Natwest and Halifax to Nationwide. To be honest with volume bailout currency printed doubt any banking crisis will happen unless banking is with HSBC/Deutsche Bank

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2 hours ago, JunkBond said:

I blame George Gammon for my sleepless nights worrying about the money in my HSBC account. 🤨😁

Dont listen to him, he's a youtube shock jock, read the information put out by the bank.  They wrote off a loss making business which reduced their profits, they still made a massive profit and revenues up.  

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